AS Ekspress Grupp to merge subsidiaries in Lithuania 10.04

AS Ekspress Grupp will merge two subsidiaries, UAB Delfi and UAB Ekspress Leidyba. Prior to the merger, AS Ekspress Grupp sells the shares of UAB Ekspress Leidyba to SIA Delfi Holding, which also holds the shares of UAB Delfi. After the merger, UAB Ekspress Leidyba will be erased from the register. The current CEO of Delfi, Darius Gudaciauskas will also be designated as the Manager of UAB Ekspress Leidyba, the former Manager of the company, Asta Iljaseviciute will continue as a Project Manager in the merged company.

UAB Ekspress Leidyba is a magazine publishing company in Lithuania. The aim of the merger is to create synergies and to join similar activities in Lithuania.

The transaction can’t be treated as a transaction with a related party and the members of the supervisory and management board do not have any personal interest in the transaction.